October Housing Market Update

(November 08, 2012)

The Greater Vancouver housing market saw a slight increase in the number of home sales and a reduction of the number of listings. There was a decrease in home prices in October compared to the summer months. With those changes the sales-to-active listings ratio increased to 11% in October from the low 8% in September.Overall the Real Estate conditions favor the buyer. Low interest rates combined with, more choice, and less time pressure in terms of choosing a home places the onus on the seller to ensure their homes are priced competitively.

In North & West Vancouver we saw the prices for homes drop overall. Buyers seemed to recognize this as that triggered our % sales-to-active listings ratio up, closley comparable to last years sales. Sales went up 19% on average compared to September. The bottom line - if your home is attractively priced in comparison to a home similar to yours it will sell.

NORTH VANCOUVER

Single Family HomesBenchmark Price $945,5001 year change up 2.2%3 year change up12.7%5 year change up 10.6%

TownhouseBenchmark Price $578,7001 year change -1.8%3 year change 2.7%5 year change up 4.4%

ApartmentsBenchmark Price $353,7001 year change up 6.9%3 year change up 4.5%5 year change up 1.5%

WEST VANCOUVER

Single Family HomesBenchmark Price $1,823,3001 year change up 1.9%3 year change up 29.5%5 year change up 20.3%

ApartmentsBenchmark Price $611,0001 year change -4.4%3 year change up 3.0%5 year change down -8.3%

This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy - Listing data updated on May 24, 2018

This website is presented by Leanne Woodward from Royal Le Page Sussex Realty